Equities research analysts expect that Alphatec Holdings, Inc. (NASDAQ:ATEC) will post $45.77 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Alphatec's earnings, with the highest sales estimate coming in at $46.68 million and the lowest estimate coming in at $45.00 million. Alphatec posted sales of $29.63 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 54.5%. The company is expected to announce its next earnings results on Thursday, August 5th.
According to Zacks, analysts expect that Alphatec will report full year sales of $195.76 million for the current financial year, with estimates ranging from $189.96 million to $212.16 million. For the next year, analysts expect that the business will report sales of $239.31 million, with estimates ranging from $220.69 million to $278.45 million. Zacks Investment Research's sales averages are an average based on a survey of sell-side analysts that that provide coverage for Alphatec.
Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Thursday, May 6th. The medical technology company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.19) by ($0.07). The firm had revenue of $44.12 million for the quarter, compared to analysts' expectations of $44.10 million. Alphatec had a negative return on equity of 116.47% and a negative net margin of 51.10%.
ATEC has been the topic of a number of recent research reports. Piper Sandler lifted their price objective on shares of Alphatec from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Friday, March 5th. Zacks Investment Research lowered shares of Alphatec from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 12th. Canaccord Genuity restated a "buy" rating on shares of Alphatec in a research note on Friday, April 9th. Finally, HC Wainwright lifted their price objective on shares of Alphatec from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, March 5th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of "Buy" and an average target price of $15.50.
In other news, EVP Craig E. Hunsaker sold 25,000 shares of the business's stock in a transaction dated Thursday, April 8th. The shares were sold at an average price of $16.23, for a total transaction of $405,750.00. Following the transaction, the executive vice president now directly owns 1,008,361 shares in the company, valued at $16,365,699.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Jennifer N. Pritzker purchased 4,000 shares of the company's stock in a transaction dated Monday, May 10th. The shares were purchased at an average price of $14.38 per share, for a total transaction of $57,520.00. Following the completion of the purchase, the insider now owns 36,200 shares of the company's stock, valued at $520,556. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 69,572 shares of company stock worth $1,127,182. Company insiders own 34.38% of the company's stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in Alphatec by 11.5% during the first quarter. BlackRock Inc. now owns 4,372,095 shares of the medical technology company's stock worth $69,036,000 after buying an additional 450,287 shares during the period. Deerfield Management Company L.P. Series C grew its position in Alphatec by 60.1% during the first quarter. Deerfield Management Company L.P. Series C now owns 3,201,916 shares of the medical technology company's stock worth $50,558,000 after buying an additional 1,201,916 shares during the period. Avidity Partners Management LP acquired a new position in Alphatec during the fourth quarter worth about $26,875,000. Perceptive Advisors LLC purchased a new stake in shares of Alphatec in the first quarter valued at about $25,490,000. Finally, Next Century Growth Investors LLC lifted its holdings in shares of Alphatec by 181.0% in the fourth quarter. Next Century Growth Investors LLC now owns 1,688,869 shares of the medical technology company's stock valued at $24,522,000 after purchasing an additional 1,087,868 shares in the last quarter. Institutional investors own 45.22% of the company's stock.
Shares of ATEC opened at $14.16 on Friday. Alphatec has a 1-year low of $4.31 and a 1-year high of $19.36. The stock has a market capitalization of $1.38 billion, a PE ratio of -12.87 and a beta of 1.57. The company has a current ratio of 3.98, a quick ratio of 3.16 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average of $15.45.
Alphatec Company Profile
Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform designed to reduce the risk of intraoperative nerve injury; squadron lateral retractor designed to maximize patient outcomes; Sigma transforaminal lumbar interbody fusion pedicle-based access system that provides direct visualization of anatomical landmarks; Sigma PTP Access and Patient Positioning System; Invictus Spinal Fixation System, a thoracolumbar fixation system to treat a range of pathologies; and Invictus MIS SingleStep System designed to improve surgical efficiency without compromising accuracy.
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